New head of restructuring arm at KPMG

KPMG has announced that Mike Walker will
take over from Tony McMahon as the new head of KPMG’s restructuring insurance
solutions practice in April next year.

Walker has been with restructuring insurance arm at KPMG for nearly 15 years.
In that period the team has handled some of the industry’s largest failures such
as English & American Insurance Company Ltd, Sovereign Marine and General
Insurance Company Ltd, Anglo American Insurance Company Ltd and the
HIH Group.

More recently a great deal of the team’s work has concentrated on the solvent
winding down and closure of discontinued books of business both in the UK and
overseas – particularly Continental Europe and

Walker said: ‘As seen from the latest KPMG/ARC Run-off Survey 2006, the UK
market is huge with an increasing amount of trapped capital. The industry, both
in the UK and overseas, is looking for new ways to drive both operational and
capital efficiencies. Our team has a wealth of practical experience that can
help our clients to achieve these objectives.’

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